What Does Umbrella Insurance Mean?

Your insurance policies form a safety net that protects your long term financial health. However, even the most well-planned network of coverages can sometimes fail. When catastrophe strikes, an umbrella insurance policy from Fulginiti Insurance can provide extra protection for your Philadelphia or Aston, PA area lifestyle. What is umbrella insurance and how does it help you maintain your financial health?

The Basics of Umbrella Insurance

An umbrella insurance policy is built to provide extra coverage for your existing policies. It doesn’t replace your auto, home, or commercial insurance. Instead, it supplements those coverages to ensure that you always have the funds you need to rebuild your life after a payout is triggered.

When your primary policy doesn’t quite cover your needs, your umbrella policy makes up the difference. Legal fees, court-ordered penalties, and judgments don’t have to empty your personal savings. By adding umbrella coverage to your insurance strategy, you protect your cash reserves and personal property from legal actions associated with property damage, bodily injury, libel, and slander.

More than just legal assistance, your umbrella policy also protects your lifestyle. What happens when your brand new car is totaled just days after leaving the lot? If your primary auto coverage falls short, the extra funds from your umbrella policy can help you pay off the loan on your damaged car and possibly put a down payment on a replacement.

Umbrella Insurance: A Valuable Asset for Long Term Financial Health

Building wealth requires an intelligent plan. When you’re working out the details of your financial future, consider the benefits of umbrella insurance in your long term plan. With a customized umbrella policy from Fulginiti Insurance, you can:

  • Keep your cash savings safe.
  • Know that you can rebuild your commercial or personal property after a catastrophe.
  • Be able to afford effective legal representation, no matter what the issue.

Contact our agents to talk about how umbrella insurance can directly benefit your Philadelphia or Aston, PA lifestyle.

 

Flood Insurance 101

When it comes to natural hazards, floods happen often and typically cause the most property damage and loss of life. You may think that it is all about rain, but there are many other causes of flooding, including winter storms, melting snow, and hurricanes. According to FEMA, even one inch of floodwater can cause damage to your home or condo. With rising water levels and climate change, almost nowhere is safe from the potential of flooding. Thirty percent of all flood insurance claims are from areas of low to moderate risk. In Aston, PA, Fulginiti Insurance is there to help answer any questions you may have about flood insurance. 

Where to Find a Policy

FEMA administers the National Flood Insurance Program but it doesn’t actually sell you the insurance. You need to buy flood insurance from a local agent. You can contact the NFIP if you need to locate an insurer who sells flood insurance. All agents who sell flood insurance through the NFIP program charge the same price for the coverage in the same area, the price is set by the government program. So it is wise to choose one that you know will be easy to deal with if you ever have a claim. The program limits the structure coverage to $250,000 and contents to $100,000. It doesn’t pay for a place for you to stay while your home is being repaired. 

Private flood insurance is also available and it does have some advantages, it is not limited to $250,000 home coverage and $100,000 like the NFIP policies. So, if you have a more expensive home and a lot of property, it may be a better option. It may also pay for your living expenses while you are unable to live in your home. 

When it comes to flood insurance, you have options. In Aston, PA, Fulginiti Insurance is happy to discuss your options with you. Why not stop by our office or give us a call for a no-obligation quote. 

 

 

 

 

Why do I need condo insurance in Pennsylvania?

Condo owners in Aston, PA and throughout the state have lots of questions about the value of insuring their dwelling. Many misconceptions are out there and a visit to Fulginiti Insurance will help to put your mind at rest about the facts related to condo insurance. You may be wondering exactly what your condo association insurance covers and how that affects the things that you need to cover. 

Condo association coverage

Generally speaking, your condo association is responsible for the exterior maintenance of the units, things like roofs, walkways, exterior balconies, and all common areas. In addition to damage coverage, they also have liability insurance in the event that someone is injured while using the common areas. But let’s just say your furry friend bites someone while being walked on the common walkways, that is all on you. Having liability coverage is one very good reason to have condo insurance. 

Your Coverage

If you have a mortgage on your condo, much the same as if you have a mortgage on a freestanding house, your lender will require that you have condo insurance. Your insurance policy will cover everything inside your condo walls such as your furniture, electronics, clothing, and other personal items. With a good condo policy, you will also be covered for loss of use in the event that your unit becomes uninhabitable due to a covered event. You will get money to help pay for a place to stay. 

Protecting your condo from all the things that can happen is important. When it is time for your first policy or to renew your current policy, the team at Fulginiti Insurance in Aston, PA will be happy to share their vast knowledge of the condo insurance market with you. Give us a call or stop by the office and let us give you a no-obligation quote, you’ll be glad you did.

A Quick, Complete Introduction to Life Insurance

A Quick, Complete Introduction to Life Insurance

Many people obtain their life insurance through their work as an automatic part of their benefits package. You may not think you need more than that, but an additional policy can help protect your family in the event of your death. If your employer does not include a life insurance policy in your benefits package, you need a policy. Fulginiti Insurance, serving Aston, PA, wants you to understand your choices.

Many types of life insurance exist, though. Your choice depends on your situation. Your basic options are a term or whole life policy.

Term Life

Term insurance typically covers the insured for a period of one to thirty years. It pays a death benefit if you, the insured, die during the policy’s term. You can choose from a level term in which the benefit remains the same and decreasing term in which the death benefit reduces in one-year increments, typically.

Whole Life

Whole life insurance, also called permanent life insurance, pays a death benefit when the insured dies. You can choose from traditional whole life, universal life, and variable universal life. With traditional whole life, the death benefit and premium remain the same throughout the policy’s life. The premium does increase once the insured reaches old age, for example, 80 and older. This builds cash value as premiums get paid in from the first payment through the life of the policy. Universal life, also called adjustable life, include a savings component – a cash value account – that earns interest. Variable life policy combines a death benefit and a savings account that can be invested in various financial vehicles. It provides more risk but can result in quicker growth.

Learn more about your life insurance choices by contacting Fulginiti Insurance in Aston, PA. Let us help you determine which policy best suits your financial and investment needs.

Look for this important feature when choosing your auto policy

Having a car is an excellent way to get around, and for many people, they are vital for their personal and professional lives. When your vehicle is totaled, you may be surprised to learn that your coverage is insufficient to replace it with the type of car that you want. Now is the time to ensure that your auto policy provides the coverage that you need. No one wants to find out after they have an accident that their insurance policy doesn’t contain the coverage that they need! The team at Fulginiti Insurance in Aston, PA is here to help you make sure that your policy protects to cover your vehicle, health, and others on the road.

Make sure you have adequate replacement coverage

There are a lot of factors to review when selecting your auto insurance policy, and at times, the entire process can feel overwhelming. When you are choosing your policy, be sure to choose one that has adequate replacement coverage. There are different options available for replacement coverage, but for most people, the right one is the one that provides full replacement coverage. If your car is totaled, you will be in for some major headaches, and you may even have medical issues that need to be dealt with as well. Knowing that your insurance policy provides the coverage you need to replace your vehicle can help to reduce the amount of stress that you have. Don’t overlook this critical feature when you are selecting your auto policy. 

Are you in the greater Aston, PA area? If so, the team at Fulginiti Insurance is here to help you with all of your insurance needs. We are a full-service agency that is proud to work with our community and would love the opportunity to work with you too! Contact our office for a quote.

Items You Didn’t Realize Home Insurance Covers

It’s not always obvious what home insurance in Aston, PA covers and there are some items included that you may have not even realized. Check your coverage with your agent at Fulginiti Insurance.

Random Home Insurance Coverage

Spoiled Food: If you lose power for an extended period of time and there is food in your fridge that went to waste, you could be covered up to a certain amount. This doesn’t apply if your fridge bites the dust.

Dog Bites: Liability coverage will usually extend to dog bites. However, it’s important to check with your policy and make sure your dog is covered. Some insurance companies won’t cover certain dog breeds.

Gravestones: If you are the primary caretaker and even if it’s not kept on your property, many policies will consider a gravestone as personal property. If a family member’s headstone is vandalized, then you could find some coverage.

Pairs and Sets: If something is stolen or damaged and it’s part of a set, then you should have coverage for the entire group of items. This way you can replace the whole item instead of looking for a piece.

Space Debris: The odds of your house getting hit with something from space are small, but it has happened in the past. Satellites, meteorites, and bits of airplanes are covered under a falling objects clause in most policies.

Your Lost Luggage: This may be a travel nightmare, but this falls under the off-premise coverage. This coverage protects your belongings that are away from your house, and a suitcase that is full of your belongings counts.

Fire Department Bills: It can be common for the fire department to send you a bill if they have been called to your house. Depending on the reason they came, home insurance may cover it.

Contact Fulginiti Insurance, serving Aston, PA, to get a quote on home insurance.